With would-be buyers finally adjusting to the stress test and interest rates looking like their taking a breather, 2019 may be a strong year for home sales in Toronto and other major markets in Canada.
At the end of 2018, I wrote about the idea of reducing or repealing the mortgage stress test. Now I want to suggest some possible amendments that would make the stress test more fair now that interest rates are rising and home prices are still high.
The holidays can be expensive. It’s a great time to travel because you have the time off, you feel like you have to buy gifts for friends and family, and you meet up with other loved ones for dinner and drinks every other night.
With rising interest rates and the stress test, renewing your mortgage can be a stressful time, and you’re likely growing more concerned over your household debt. That’s why we want to share a few tips to help manage your debt and get back in the black.
Saving a sufficient down payment is tough enough on its own and when coupled with rising interest rates and tough qualification rules – which includes a mortgage stress test– affording a home becomes very difficult for some.
If you’re like most renters, you feel trapped within the walls of a house or apartment that doesn’t feel like yours. How could it when you’re not even permitted to bang in a nail or two without a hassle.